Binance introduces ‘Binance Institutional’ with more perks and benefits to cater for a specific niche of customers
Reaching Out to Customers
This new offering is targeted at a more advanced group of clients that transact more frequently and at a higher quantum. Binance Institutional offers nine VIP tiers with varying VIP privileges which includes fee discounts and higher 24-hour withdrawal limits.
Some questions have arisen regarding how the new platform will be implemented on a regulatory and market-equity basis. Edmund Yong, the Managing Partner and Founder of Celebrus Advisory, a leading blockchain advisory firm in Malaysia, raised questions on the new platform.
“It’s a market-friendly move but regulators may ask questions though. Are retail traders going to be disadvantaged? Information asymmetry is already a chronic problem in the crypto industry, and this does not look like a solution,” Yong mused in reference to the news. “Will trading information remain freely available to all users or partly restricted behind a paywall? Will VIPs get preferential access to high-speed direct market data feeds?”
Binance’s move is timely especially after Coinbase recently shut down Coinbase Pro, a platform meant for advanced traders.
Source : bsc.news
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